At 12.19pm today, the stock shed half a sen to 10 sen. A total of 24.8 million shares exchanged hands.
Yesterday (Jan 13), PUC Founder inked a JV and shareholder agreement with GreenTech Malaysia Alliance (GTMA), a wholly-owned subsidiary of GreenTech Malaysia, which will see GTMA subscribing to a 20% stake in the JV company (JV Co) PUC Founder Technology Sdn Bhd to bid for renewable energy (RE) contracts in government or government-linked corporations.
PUC Founder will hold the remainder 80% stake in the JV Co.
PUC Founder's group managing director Cheong Chia Chieh told the press yesterday (Jan 13) that the JV Co is part of the group’s expansion plans for its RE division, after obtaining shareholders’ approval to diversify into the RE segment.
He had said that through the JV Co, the group will bid for RE projects like solar, biogas and biomass-related projects.
GreenTech Malaysia's chief financial officer Woon Foo Wen had said the JV Co aims to secure at least one this year, with a focus on solar, biogas and biomass-related projects in Malaysia.
PUCF had received its shareholders’ nod to venture into RE at its extraordinary general meeting on Dec 29, 2015, as well as for a rights issue to fund its RE expansion plans.
The company currently has a 1mw solar photovoltaic plant in Sungai Petani, Kedah, which is expected to contribute to its revenue in the first quarter of 2016.
PUCF said the plant, already connected to the grid, is undergoing final inspections by the Sustainable Energy Development Authority.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
PUC (0007) - Hot Stock - PUC Founder among most active stocks after inking JV with GreenTech Malaysia
http://www.theedgemarkets.com/my/article/puc-founder-among-most-active-stocks-after-inking-jv-greentech-malaysia
PUC, PUC (0007), 0007, KLSE:PUC, Investing, The Edge, Hot Stock
